An Internal Auditor’s job is to determine whether leaders of an organization (management) are assessing and managing risks appropriately. A fundamental componoent of managing risk is the use of controls and mitigating actions.

Controls are things that are in place to prevent risks from being realized. For example, a lock on a door is a type of control, meant to prevent unauthorized access.

An internal auditor ensures that the administration of an organization is aware of, understands and manages risks and that the organization has controls in place that are effectively mitigating risk.

Other services provided by internal auditors include:

Helping to design new processes

Development and supporting implementation of projects

Offering support, coaching and advice on improvements and efficiencies

Internal Audit Services adds value by delivering above and beyond anticipated scope and expectations and minimum expected delivery. We work to save the University money and help to improve efficiencies.

After the audit, the department management creates an action plan for resolution of any issues that were identified. Internal Audit Services issues the report and action plan to the department’s managers and directors, the related Vice-President and the President, along with the Internal Audit’s opinion on risk and control in the department. Future follow up is done to ensure the action plans have been successfully implemented.

Annually these issuses are reported to the Financial Planning, Audit and Human Resources Committee along with status and progress reports.